Kabam doubled its revenue in 2013, not interested in next-gen
If you thought that social games giant Kabam had a great 2012
, the company's latest financial results should make for interesting reading.
The free-to-play behemoth this week reported $360 million in revenues for 2013, doubled from 2012's $180 million. The company had previously forecast revenues of $270 million for the full year.
Kabam CEO Kevin Chou noted that most of this revenue was generated from the company's mobile games, although he said that around $100 million on that total revenue came from browser games on Facebook and Kabam.com.
The Hobbit: Kingdoms of Middle-earth
and Kingdoms of Camelot: Battle for the North
were Kabam's top-grossing games of the year, while 11 Kabam games grossed more than $1 million in a month during 2013.
Chou also took a moment to address whether Kabam plans to develop games for next-gen consoles Xbox One and PS4 -- and it would appear the answer is 'probably not.'
"A new generation of consoles was introduced last year and initial sales appeared encouraging," he said. "However, over time, free-to-play mobile gaming revenues will dramatically overtake traditional game sales as more people worldwide download and play games on smartphones and tablets from freemium content companies like Kabam."